Dominion Energy, a U.S.-based power and energy company, has issued a request for proposal (RFP) soliciting bids for RECs from solar, wind or anaerobic digestion resources for compliance with the RPS.
Eligible facilities must be located in Virginia, must be no larger than 1 MW in size and not have more than 3 MW at any single location or at contiguous locations owned by the same entity or affiliated entities. The company anticipates that most proposals will submit RECs that come from existing facilities; however, prospective bidders may submit proposals to sell RECs generated through the end of 2023 which could come from existing facilities or new facilities.
Last year, legislation passed by the general assembly and signed by Gov. Ralph Northam has set Virginia on a path to 100% clean energy and aligns with Dominion Energy’s net-zero goals. The mandatory renewable portfolio standard (RPS) sets annual percentage goals for an increasing percentage of Dominion Energy’s electricity sales to come from clean resources. In 2021, the company will retire RECs equivalent to 14% of non-nuclear electricity sales to retail customers. By 2045 this percentage will increase to 100%.
The RFP outlines the proposal requirements, including the purchase and sales agreement terms, as well as the evaluation criteria.
Notices of intent to bid and confidentiality agreements are due no later than 3:00 p.m. EST on Feb. 22, with purchase and sale proposal submittals due no later than 3:00 p.m. EST March 22.
Potential bidders seeking more information on the competitive bidding process and the RFP submittal documents, click here.